TWO investment advisers were still at the office of Winfull Securities yesterday after the Securities and Futures Commission suspended their registrations for a misconduct carried out on March 15. At the time of the breach, the two were acting as dealer's representatives of Pierson Securities (Asia). The SFC said yesterday it had refused Deo Yam Tak-cheung and Steve Hui Cheun-ming registrations as investment representatives, and suspended their registrations as dealer's representatives of Winfull Securities for 12 months and six months, respectively. The commission found Mr Yam and Mr Hui guilty of misconduct when they creamed off $1.5 million from a transaction involving 15 million Process Automation shares by acting as go-betweens while acting as dealer's representatives of Pierson. It is understood that the two sold shares from a client account which they operated, rather than buying them on the open market, and thus - while benefiting themselves - failed to offer their customers the best price. But a senior official for Winfull last night agreed the two men were still under the same roof, if not on the payroll. He said: ''They are working under the same roof, but it all depends how you define employment. Both are performing some things for us, but are not on the payroll.'' He later amended this to: ''They are just hanging around the office and not really performing anything. Our lobby is open to the public. Anyone can walk in and watch the screens, follow the stock market. ''They are just utilising our facilities, but not doing any business for us.'' Winfull Securities had been informed of the SFC's action by letter a little while ago, he added. Yesterday's statement from the SFC said enquiries carried out while the two men acted as dealer's representatives of Pierson aimed to find out whether they were fit and proper to remain registered as dealer's representatives. As a result of the enquiry, ''the commission found that Mr Yam and Mr Hui had failed to act in the best interests of their clients''. ''The commission therefore concluded that Mr Yam and Mr Hui's reputation, character, reliability and their ability to perform the functions of dealer's representatives honestly and fairly had been impugned, which in turn impugned their fitness and properness to remain registered.'' Both were ordered to pay costs of $35,795.50 to the commission.